Wealth management

In Brief: Ameriprise Variables' Accumulation Shield

Published February 02, 2006, 2:00 a.m. EST

|

Updated February 01, 2006, 4:58 p.m. EST

1 Min Read

Ameriprise Financial Services Inc. announced it had added a guaranteed minimum accumulation benefit to its RiverSource lineup of variable annuities.

Processing Content

RiverSource annuities are sold through the personal advisers of Ameriprise Financial as well as other distribution channels, the Minneapolis company said on Tuesday.

The accumulation benefit protects investors against market downturns during the first 10 years they own the contract. For an additional annual fee, the benefit can be bought for RiverSource Retirement Advisor Advantage Plus variable annuity contracts and RiverSource Retirement Advisor Select Plus contracts, which are issued by IDS Life Insurance Co. and IDS Life Co. of New York.

For reprint and licensing requests for this article, click here.

Wealth management

MORE FROM AMERICAN BANKER

Artificial intelligence

'Knock on wood': Are banks doing enough to cope with Mythos?

Banks have publicly said they're on top of the risk presented by Anthropic's Claude Mythos, which can find and exploit software vulnerabilities at unprecedented speed. Experts aren't as sure.

By Penny Crosman
Executive Editor, Technology at Arizent

27m ago
Secondary markets

Freddie Mac earnings surge on net interest income, credit release

Growth in retained and investment portfolios drove gains as the government-sponsored enterprise reported the highest refinancing share seen in four years.

By Bonnie Sinnock
Capital Markets Editor

1h ago
Mortgages

K-shaped economy amplifies rise in nonprime DTI ratios

Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.

By Bonnie Sinnock
Capital Markets Editor
Secondary markets

Lenders test new Fannie Mae, Freddie Mac, FHA scores

Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.

By Bonnie Sinnock
Capital Markets Editor

5h ago
Federal Reserve

Powell plays his last card as Fed chair

Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.

By John Heltman
Washington Bureau Chief

April 29
De novo institutions

Oregon enacts law granting 3-year tax break to new banks

The Beaver State measure gives de novo banks up to $1 million per year in tax credits. Oregon lawmakers modeled their legislation on a 5-year-old Ohio law.

By John Reosti
Reporter

April 29

Load More